**Berkshire Hathaway’s New CEO Greg Abel Receives Salary Increase**
Berkshire Hathaway has announced a significant salary increase for its new CEO, Greg Abel, as detailed in a recent regulatory filing. Effective this year, Abel, who took over the role from Warren Buffett on January 1, will receive an annual cash salary of $25 million, marking a 19% increase from his previous compensation. This new salary far surpasses the $100,000 that Buffett earned annually during his tenure.
Greg Abel, who previously served as vice chairman overseeing Berkshire’s non-insurance operations for eight years, is stepping into a new era for the company. His salary increase reflects a shift in compensation structures compared to Buffett’s long-standing approach. In 2023, Abel earned a $20 million salary, while in 2022, he received $16 million along with a $3 million bonus. Buffett had set these compensation levels during his time as CEO.
Ajit Jain, Berkshire’s Vice Chairman responsible for the insurance sector, has maintained the same salary from 2022 to 2024, although their compensation for 2025 has yet to be disclosed. Despite Abel’s substantial salary, it remains modest compared to the lucrative incentive packages awarded to tech executives in recent years, such as Elon Musk’s $1 trillion package approved by Tesla shareholders.
Abel’s ascent to CEO marks a pivotal transition for Berkshire Hathaway, a company that Buffett has led for over six decades. Abel joined Berkshire in 1999 through the acquisition of MidAmerican Energy and became CEO of Berkshire Hathaway Energy in 2008. He was appointed vice chairman in 2018, overseeing all non-insurance businesses.
In addition to his salary, Abel holds approximately $171 million in Berkshire stock and sold a 1% stake in Berkshire Hathaway Energy for $870 million in 2022. As Berkshire Hathaway embarks on this new chapter under Abel’s leadership, the company is poised for continued growth and innovation.
**FAQ**
*What is Greg Abel’s new salary as CEO of Berkshire Hathaway?*
Greg Abel’s new salary as CEO is $25 million annually, reflecting a 19% increase from his previous compensation.
